Once you’re ready to move forward with your loan submission you’ll be asked to gather and submit to us the following documents:
*Summary for rehab project with the below:
- Property information (location, description, market info, etc.)
- Numbers breakdown for project, to include purchase, rehab/construction, closing costs, realtor fees, holding costs, etc.
- Detailed rehab cost estimate/bid
- BPO/CMA for ARV showcasing recent comps – Comps should reflect the median sales prices of homes in the subject market.
- Color photos of the subject property and/or architectural renderings
*PFS for all sponsors (see attached)
*Credit report-lender can pull this if needed
*2 months recent bank/asset statements for borrowing entity
*Most Recent 1040 for borrower or borrowing entity
*Bio/background on borrower(s) showcasing past projects
- Should include purchase price, before and after photos, projected project costs vs actual costs, project time line, sales price, ROI, and copy of closing statement
*Bio on GC and/or construction company
*Executed purchase contract (if available at time of submission)
*Title Prelim (if available)